India highways: Highway ministry engaged on mega plan for constructing 50,000 km of latest, access-controlled, expressways

The programme is anticipated to exchange the Bharatmala scheme and can sync all future highway tasks with the federal government’s Imaginative and prescient 2047 for the sector. Moreover, the federal government is contemplating satellite- or GPS-based tolling on choose stretches by changing FASTags to dispose of wait time at toll plazas, and rolling out a cashless remedy facility for all highway accident victims.

The primary 100 days of the brand new authorities will see the ministry laying down short-, medium- and long-term targets throughout the recognized areas as a part of the excellent growth of India’s highway transport sector, a senior authorities official advised ET.

“The highway ministry has aligned its future tasks to Imaginative and prescient 2047 and, going ahead, a majority of highway tasks might be bid out on the build-operate-transfer (BOT) mode with better participation of the personal sector,” the official mentioned.

The ministry had just lately notified modifications to the mannequin concession agreements for each BOT and TOT (toll-operate-transfer) modes of tasks, making them easier and investor pleasant to draw personal investments.

“The concept is to cut back logistic prices in India, decongest India’s roads and make the highway infrastructure expertise world-class, befitting a developed nation,” the official added.In response to the official, the complete plan for awarding new tasks is already in place and the ministry is ready for the go-ahead on Imaginative and prescient 2047, after which it’s going to begin calling bids.Moreover, the ministry will proceed to concentrate on asset monetisation and goals to garner in extra of Rs 40,000 crore by means of infrastructure funding trusts (InvITs) and securitisation in 2024-25.

The plan can be to nudge Indian enterprises to arrange automobile scrapping centres and doling out incentives to automobile homeowners to go for scrapping of their outdated automobiles as a part of the federal government’s push to round economic system.

The 2024-25 interim funds has allotted Rs 2,78,000 crore for highway, transport and highways as towards Rs 2,70,434.71 crore initially allotted for 2023-24. The revised allocation for 2023-24 was Rs 2,76,351.45 crore.